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NIFTY 50 10, Drag according to your convenience. India's forex reserve is in a "comfortable range" and another per cent fall will not jeopardise the situation, says a DBS report. According to the global financial services major, a challenging global environment has compelled RBI to intervene aggressively this year to contain rupee depreciation, resulting in significant drawdown in foreign reserves.
Given lingering external risks, another per cent fall in reserves is probable, but is unlikely to jeopardise the adequacy math by much," the report said. The rupee has been among the worst-performing currencies against the dollar compared with its peers so far this year and breached the mark against the American unit amid global uncertainties and concerns over inflation.
The rupee nosedived to its life-time low of As a percentage of GDP, India's reserves have been smaller than most in the region for a few years now and this is partly the reason why the authorities have had a tendency to build buffers as and when the opportunity arises.
However, the report noted that "further accretion to reserves is unlikely this year as foreign capital flows slow, and current account pressures resurface. Follow Dinar Chronicles by Email. Share to Twitter Share to Facebook. Newer Post Older Post Home. Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice.
We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. The following is an overview of the current situation based on intelligence lea The following is an overview of the current situation based on intelligence leaks The information provided in this information sheet is strictly for information purposes only, and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person.
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Investors are advised to stick with stronger Asian economies with firm external balance sheets and fiscal balances like China and Singapore. Given lingering external risks, another per cent fall in reserves is probable, but is unlikely to jeopardise the adequacy math by much," the report said.
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